Articles

Harvard is leading the pack again, as it always does. This time it's very bad news. It's huge endowment, which it depends on for a major part of its annual operating expenses, has lost a whole lot of billions. And, while President of Harvard, Summers played a very active role overseeing and steering the university's investments. And, he did a terrible job. By any count, Harvard's endowment has lost somewhere between 30% to 45%, and the latter is more likely.

Millions of investors have parked their cash in brokerage sweep accounts. In most cases, this is a bad idea.

There were two more bank failures last Friday - Security Savings Bank of Henderson, NV and Heritage Community Bank of Glenwood, IL. These bank closings are the 15th and 16th bank failures for the year.

A comparison of the Dow Jones Industrial Average today to Japan's Nikkei Index leading up to and after its peak in 1989. There are a lot of similarities and some differences. What do they mean?

Etrade is running a promotion in which they will offer 100 commission free trades if you open an IRA account. There are some catches though.

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a net loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 and the first quarterly loss since 1990.

I recently opened an account with JP Morgan Chase having previously used Citibank for all of my financial needs. I am startled by how poor the

FDIC Chairwoman Sheila Bair was on CNBC tonight answering questions from Erin Burnet, crazy Jim Cramer, and an audio in a town hall style meeting. Here's what she had to say.

Bank of America CEO Ken Lewis says that Merrill Lynch and Countrywide are things of beauty and that they will become major profit centers over the next year. Ex BofA CEOs Hugh McColl and Thomas Storrs defend the acquisition. I prefer the market verdict - over $40 billion in government funds and a stock price of $4.

Regal Financial, a community bank based in Seattle, WA is offering a 12 month CD for 4% APY.

A "select" number of American Express customers are being offered $300 to close their accounts. How can you become such a customer?

Aside from being completely awol, Geithner is obviously indecisive.

The problem is now that the entire economy dried up in January. Everything stopped.